Seoul eager to expand ties with Dhaka

South Korea seeks a “free, peaceful and prosperous” Indo-Pacific region, and wants to expand its “sub-stantial cooperation” with Bangladesh - considering it as one of the most important countries in the South Asia region.

“Bangladesh is one of the most important countries in the South Asia region. The South Asian nations are key partners in pushing forward our Indo-Pacific Strategy. Bangladesh and our country share common val-ues including democracy, freedom and human rights,” Deputy Foreign Minister of South Korea, Choi Youngsam, told UNB today on the sidelines of World Journalists Conference 2023 at Hotel President in Seoul.

He said the partnership and cooperation with Bangladesh have been growing in many areas, including in economy, and that they believe that the two countries can “further strengthen” the bilateral relations.

Responding to a question, the South Korean deputy foreign minister said mutual high-level visits may take place in the coming days as the two countries seek to expand the relationship.

South Korea is Bangladesh’s 5th largest FDI provider with USD 1.3 billion invested here. Almost 200 South Korean companies have already invested in various sectors in Bangladesh.

Recently, South Korea’s investments have been diversified in infrastructure, energy, and consumer goods such as electronics - thereby contributing to further expansion of collaboration.

The South Korea International Trade Association (SKITA) estimates that the two nations’ bilateral trade volume reached USD 3.035 billion in 2022 - a 38.71 percent increase from USD 2.188 billion the year be-fore. Earlier, speaking at the inaugural session of the World Journalists Conference at the same venue, he said they will enhance strategic partnership with India and expand cooperation with other South Asian countries as part of exploring regional opportunities.

The South Korean Deputy Foreign Minister described its relations with Japan as “future-oriented” while it seeks to have a healthy and mature relationship with China.

He mentioned that South Korea will host a third “Summit for Democracy”. The United States and the Re-public of Korea share deep bonds, rooted in their common democratic values and respect for human rights. The two countries are committed to further strengthening robust political, economic, security, and people-to-people ties.

Based on South Korea’s unwavering support for ASEAN Outlook on the Indo-Pacific, the country will also reinforce substantive and strategic cooperation with the regional body. “We will work closely with ASEAN,” said the deputy foreign minister.

The South Korean deputy foreign minister said they are living in a “polycrisis” and mentioned the impacts of Covid-19, climate change, supply chain disruption and Russia-Ukraine war - noting that these are affect-ing everyday life in an unprecedented manner.